Our 2021 financial results
Rothesay’s substantial capital and robust performance in 2021 have positioned us well for significant future growth opportunities. The Group’s solvency remains very strong with a Solvency Capital Requirement coverage ratio of 226% and surplus capital of £4.6bn. In addition, Rothesay reported pre-tax IFRS profits of £913m (the second highest profits in the company’s history), £3.0bn of new pension bulk annuity business, and growth in assets under management to £62.5bn.
Addy Loudiadis, Chief Executive Officer of Rothesay, said:
“Rothesay’s substantial capital and robust performance over the course of 2021 means we are very well positioned for the significant growth opportunities ahead, which we are already encouraged to see materialising. We continue to be disciplined in our approach to underwriting, preferring to be patient even in a relatively subdued market to ensure returns from new business are appropriate.
Rothesay’s industry-leading risk management systems and innovative mindset enabled us to negotiate market conditions well, particularly rising long-term interest rates, and also create new ways to invest cautiously, such as with our launch of long-term, fixed rate mortgage products. We are strongly placed to benefit from the significant new business opportunities we are now seeing and look forward to continuing to innovate in the year ahead, while remaining relentlessly focused on policyholder security and excellence in customer service.”